PI Industries Q2 FY27 Results & Earnings Intelligence
PIINDStructural risk assessment following Q2-FY27 | 30 Sep 26 earnings.
₹1,701.8 Cr
Reported
₹180.5 Cr
-65.5% YoY•-43.6% QoQ
₹122.2 Cr
-70.1% YoY•-50.0% QoQ
35/ 100
0 pts QoQ
The Quarter at a Glance
Consolidated Financials| Metric | Q2-FY27 | 30 Sep 26 | Q2-FY26 | 30 Sep 25 | YoY Δ | Q1-FY27 | 30 Jun 26 | QoQ Δ |
|---|---|---|---|---|---|
| Revenue from Operations | ₹1,701.8 Cr | N/A | N/A | N/A | N/A |
| Revenue (Total Income) | ₹1,762.9 Cr | ₹1,954.8 Cr | -9.8% | ₹1,766.4 Cr | -0.2% |
| Operating Profit (EBITDA) | ₹180.5 Cr | ₹523.2 Cr | -65.5% | ₹319.9 Cr | -43.6% |
| Profit Before Tax (PBT) | ₹180.5 Cr | ₹523.2 Cr | -65.5% | ₹319.9 Cr | -43.6% |
| EBIT Margin | 10.24% | 26.76% | -1653 bps | 18.11% | -787 bps |
| Net Profit (PAT) | ₹122.2 Cr | ₹409.3 Cr | -70.1% | ₹244.2 Cr | -50.0% |
| Interest Expense | ₹8.4 Cr | ₹2.6 Cr | +223.1% | ₹7.9 Cr | +6.3% |
| Operating Cash Flow | ₹889.9 Cr | ₹247.6 Cr | +259.4% | N/A | N/A |
| Basic EPS (₹/share) | ₹8.05 | N/A | N/A | N/A | N/A |
Sources:Official BSE/NSE Disclosures & Financial Filings
Core operating EBITDA margin of 10.2% reflects operating leverage, gross spread absorption, and input cost discipline against revenue.
Sentinel Executive Summary
Core Earnings Synthesis"PI Industries Limited currently sits within Flagium's Watch category. However, recent periods have introduced early signs of competitive and operating pressure, leverage and funding pressure. With both revenue and profit contracting, triggers like 'Other Income Dependency', 'Profit Collapse' amplify the structural risk. While not currently existential, persistent friction suggests that structural risk is rising."
PI Industries Limited registered a drop in both quarterly revenue and net profit, reflecting challenging industry-wide demand trends. A 'Watch' risk classification and 6 active flags indicate that operating headwinds are beginning to translate into structural pressure.
🟢 Key Operational & Structural Positives
- ✓Margin defense remains a priority as raw material costs or operating expense pressures rise.
- ✓Deleveraging or structural balance sheet adjustment is required to defend interest coverage ratios.
- ✓Capacity utilization calibration is being monitored to align with slow volume intake.
⚠️ Key Areas of Watch & Margin Pressures
- ⚠Resolution of 'Profit Collapse': PIIND: Net Profit collapsed by 70.1% YoY from FY2026 Q2 to FY2027 Q2.
- ⚠Resolution of 'Governance Integrity Shock': PIIND: Key governance event detected: DIRECTOR_RESIGNATION.
- ⚠Resolution of 'Capex Efficiency Stress': Aggressive Capex (37.2%) amidst slow revenue growth (-9.8%).
Flagium Risk Signals
Automated Forensic SignalsPersistent trigger: Other Income Dependency • Persistent trigger: Profit Collapse • Persistent trigger: Governance Integrity Shock • Persistent trigger: Capex Efficiency Stress
PIIND: 33.9% of PBT derived from Other Income in Q2 FY2027 (Other Income: ₹61.1 Cr vs PBT: ₹180.5 Cr).
PIIND: Net Profit collapsed by 70.1% YoY from FY2026 Q2 to FY2027 Q2.
PIIND: Key governance event detected: DIRECTOR_RESIGNATION.
Aggressive Capex (37.2%) amidst slow revenue growth (-9.8%).
PIIND: EBITDA margin compressed by 1559 bps YoY.
Expenses are consistently growing faster than revenues, creating operational pressure.
🎙️ PI Industries (PIIND) Q2 FY27 Concall Intelligence
Management Commentary, Concall Takeaways & Key Discussion Themes
No earnings call transcript was available
for this reporting period.
What to do next
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Flagium AI is an automated financial data analytics platform. Analysis reports are compiled programmatically from public regulatory XBRL submissions (NSE/BSE) for educational and research purposes only. Flagium AI is not registered with SEBI as a Research Analyst or Investment Adviser under SEBI regulations. This evaluation does not constitute investment advice, financial planning, or recommendations to buy, sell, or hold any security.
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